Uranium Energy (NYSEAMERICAN:UEC) Trading 6.1% Higher – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s stock price rose 6.1% on Friday . The stock traded as high as $8.59 and last traded at $8.58. Approximately 1,250,042 shares traded hands during trading, a decline of 84% from the average daily volume of 7,649,573 shares. The stock had previously closed at $8.09.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $10.25 price objective (up from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd. HC Wainwright reiterated a “buy” rating and issued a $10.25 price target on shares of Uranium Energy in a research note on Tuesday, September 24th.

Uranium Energy Stock Up 2.7 %

The company has a market cap of $3.42 billion, a price-to-earnings ratio of -138.48 and a beta of 1.82. The business’s 50-day moving average is $6.44.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter. Equities research analysts anticipate that Uranium Energy Corp. will post 0.09 earnings per share for the current year.

Insider Transactions at Uranium Energy

In related news, CEO Amir Adnani bought 60,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $4.10 per share, for a total transaction of $246,000.00. Following the purchase, the chief executive officer now directly owns 4,242,326 shares of the company’s stock, valued at approximately $17,393,536.60. The trade was a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Melbye acquired 9,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $4.18 per share, for a total transaction of $39,710.00. Following the purchase, the executive vice president now owns 988,031 shares of the company’s stock, valued at $4,129,969.58. This represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Uranium Energy

A number of large investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new position in Uranium Energy in the second quarter worth about $26,000. Farther Finance Advisors LLC raised its stake in shares of Uranium Energy by 5,130.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,812 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 4,720 shares in the last quarter. Quintet Private Bank Europe S.A. purchased a new stake in Uranium Energy during the third quarter valued at approximately $33,000. BNP Paribas acquired a new stake in Uranium Energy in the third quarter valued at approximately $38,000. Finally, National Bank of Canada FI grew its holdings in Uranium Energy by 29.7% in the third quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,713 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

About Uranium Energy

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.